Cramer's 'Mad Money' Recap: Putting Europe Into Perspective

Shares of Celanese have fallen nearly 27% from their recent highs in February, making the company too cheap to ignore, said Cramer. He explained that the company makes building-block chemicals for other industries, chemicals that include resins, filtration products, emulsions and plastics. What all these chemicals have in common, however, is that they use a ton of natural gas to manufacture.

Celanese uses so much natural gas that a $1 move in the price of the commodity translates to between 15 cents and 20 cents a share to the company's bottom line. But Celanese isn't content just making money from the low price of natural gas, it's also investing in a new facility in Texas that will come online in 2015 and add even more to the bottom line.

Cramer said Celanese is also a turnaround story, as the company missed earnings by 5 cents a share last quarter but now has a new CEO with the street cred to get the job done. Nearly 30% of Celanese' profits stem from Asia, said Cramer, and the company is now selling for just seven times earnings with a 10% growth rate. A bargain by any metric.

Both Sides of the Latte

What should investors do with shares of Starbucks(SBUX) after the company received an upgrade from Oppenheimer & Co. on the same day it received a downgrade from UBS? Cramer reminded viewers that when analysts disagree, investors win as they get to see both sides of the coin.

While both firms still rate Starbucks a buy, the bear case said Starbucks shares are likely to trade sideways, thanks in part to a slowdown in domestic sales. Indeed, the company did shave 1 cent a share off its earnings estimates as part of a recent acquisition, but the firm also noted that Starbucks' European business will be a hurdle.

But the bull case said deceleration of Starbucks' earnings are unlikely as the fundamentals remain strong and the company has a slew of new products debuting this summer. In addition to new drinks, Starbucks is also taking share in the single-serve coffee market, will be entering the lucrative energy drink market as well as stepping up its expansion in China.

Cramer said Oppenheimer has a proven track record as it recommended selling McDonald's(MCD) , a stock which he owns for his charitable trust, Action Alerts PLUS, at its highs a few months back. Cramer said with CEO Howard Schultz still at the helm of Starbucks, it's hard to bet against this winning company with a winning analyst behind it.